He was the minister for Co-operation, Khadi and Village Industries and Pollution Control -Government of Kerala under the Oommen Chandy Ministry.

Balakrishnan was born at Puzhakkal near Thrissur to parents Narayanan Ezhuthachan and Paruamma in 1934.

Later, he married Thankamoney, a teacher and a member of the Arakkal family, and they had two daughters, C. B. Geetha and Mini Balram.

He strengthened the activities of Kerala Khadi Village Industries Association and he has been working as its president and he continued in this position.

Balakrishnan was the front ranking volunteer and leader of the library movement in the state and worked along with the late P. N. Panikkar.

He still continued as an important leader of the Cooperation Cell of Indian National Congress directing its multifarious activities.

The headquarters of Thrissur District Cooperative Bank and Jawaharlal Nehru International Convention Centre stand as testimony to the untiring work and leadership of C. N. Shri.

As Treasurer of Kerala Pradesh Congress Committee(KPCC) he succeeded in strengthening the party both within the district and throughout the State.

In 2011 the situation required that he should contest from Wadakkanchery, became member of Legislative Assembly for the first time and Minister for Cooperation.